Note: This document has been translated from a part of the Japanese original for reference purposes only. In the event of any
discrepancy between this translated document and the Japanese original, the original shall prevail.

February 9, 2024

Consolidated Financial Results
for the Nine Months Ended December 31, 2023
(Under Japanese GAAP)
Company name:
Listing:
Securities code:
URL:
Representative:
Inquiries:
Telephone:

Furukawa Co., Ltd.
Tokyo Stock Exchange5715
https://www.furukawakk.co.jp
Minoru Nakatogawa, President and Representative Director
Tsuyoshi Tajika, General Manager, Accounting Department+81-3-6636-9502

Scheduled date to file quarterly securities report:
Scheduled date to commence dividend payments:
Preparation of supplementary material on quarterly financial results:

February 14, 2024–
None

Holding of quarterly financial results briefing:

None(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the nine months ended December 31, 2023 (from April 1, 2023 toDecember 31, 2023)(1) Consolidated operating results (cumulative)(Percentages indicate year-on-year changes.)
Net salesNine months ended
December 31, 2023

Millions of yen
142,034

December 31, 2022

156,954

Note: Comprehensive income

Operating profit% Millions of yen
(9.5)
6,668

% Millions of yen
10.2
8,205

% Millions of yen
19.1
14,763

6.3

5.7

2.9

6,050

For the nine months ended December 31, 2023:
For the nine months ended December 31, 2022:

Basic earnings
per share

Profit attributable toowners of parent

Ordinary profit

Diluted earnings
per share

Nine months ended
December 31, 2023

Yen
392.63

Yen–December 31, 2022

116.98–6,887¥ 19,378 million¥ 7,169 million

4,495[170.3%][25.7%]

%
228.4
1.1

(2) Consolidated financial position
Total assets
As ofDecember 31, 2023

Net assets

Equity-to-asset ratio

Millions of yen
252,914

Millions of yen
121,875%
46.9

232,745

106,050

44.2

March 31, 2023
Reference: Equity
As of December 31, 2023:
As of March 31, 2023:¥ 118,542 million¥ 102,946 million

2. Cash dividends
Annual dividends per shareFirst quarter-end

Second quarter-end

Third quarter-end

Yen

Yen

Yen

Yen

Yen

–0.00

–

50.00

50.00

–0.00

–50.0050.00

Fiscal year ended
March 31, 2023
Fiscal year ending
March 31, 2024
Fiscal year ending
March 31, 2024
(Forecast)Fiscal year-end

Total

Note: Revisions to the forecast of cash dividends most recently announced: None

3. Forecast of consolidated financial results for the fiscal year ending March 31, 2024 (from April 1, 2023 toMarch 31, 2024)(Percentages indicate year-on-year changes.)
Net sales

Fiscal year ending
March 31, 2024

Operating profit

Profit attributable toowners of parent

Ordinary profit

Basic earnings
per share

Millions ofyen%Millions ofyen%Millions ofyen%Millions ofyen%

Yen

189,300(11.6)

9,000(0.4)

10,50012.3

16,500165.6

443.67

Note: Revisions to the forecast of financial results most recently announced: Yes* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the changein scope of consolidation): None
(2) Adoption of accounting treatment specific to the preparation of quarterly consolidated financial statements:
None(3) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(4) Number of issued shares (common shares)(i) Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2023

40,445,568 shares

As of March 31, 2023

40,445,568 shares(ii) Number of treasury shares at the end of the period
As of December 31, 2023

3,255,564 shares

As of March 31, 2023

2,329,563 shares(iii) Average number of shares outstanding during the period (cumulative from the beginning of the fiscal year)
Nine months ended December 31, 2023

37,601,601 shares

Nine months ended December 31, 2022

38,430,623 shares* Quarterly financial results reports are exempt from quarterly review conducted by certified public accountants oran audit corporation.
* Proper use of earnings forecasts, and other special matters
Caution concerning forward-looking statements
The forward-looking statements, including earnings outlook, contained in these materials are based on
information currently available to the Company and on certain assumptions deemed to be reasonable by theCompany. The Company makes no warranty as to the achievability of the projections. Actual business andother results may differ substantially from the statements herein due to a number of factors.

Furukawa Co., Ltd. (5715)

Attached MaterialIndex
1. Quarterly Consolidated Financial Statements and Significant Notes Thereto ...................................................... 2(1) Quarterly consolidated balance sheet ............................................................................................................. 2(2) Quarterly consolidated statement of income and consolidated statement of comprehensive income ............ 4
Quarterly consolidated statement of income (cumulative) ............................................................................. 4
Quarterly consolidated statement of comprehensive income (cumulative) .................................................... 5
Supplementary Material on Financial Results for the Nine Months Ended December 31, 2023 ................................ 6-1-

Furukawa Co., Ltd. (5715)

1. Quarterly Consolidated Financial Statements and Significant Notes Thereto(1) Quarterly consolidated balance sheet(Millions of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade, and contract
assetsMerchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Land
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets-2-As of December 31, 2023

13,606

17,81435,502

28,626

18,705
12,213
15,5844,318(47)
99,882

20,185
13,56819,4156,000(48)
105,562

23,43553,91013,636
90,981
317

23,12051,747
15,72990,597360

34,711
7,622(769)
41,563
132,862
232,745

38,954
18,236(796)
56,394
147,351
252,914

Furukawa Co., Ltd. (5715)(Millions of yen)
As of March 31, 2023
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Income taxes payable
Provisions
Other
Total current liabilities
Non-current liabilitiesBonds payable
Long-term borrowings
Provisions
Retirement benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets-3-

As of December 31, 2023

14,397
9,244
16,607
1,711
202
20,947
63,111

15,821
11,583
9,648
2,026
202
17,96857,252–
46,24097
2,481
228
14,53463,583
126,695

5,000
47,1124
2,387
232
19,05073,787131,039

28,2082
58,847(3,086)
83,971

28,2082
71,712(4,707)
95,215

12,320
(77)
2,582
1,564
2,584
18,974
3,103
106,050
232,745

14,875
305
2,575
3,130
2,439
23,327
3,332
121,875
252,914

Furukawa Co., Ltd. (5715)(2) Quarterly consolidated statement of income and consolidated statement of comprehensive income
Quarterly consolidated statement of income (cumulative)(Millions of yen)
Nine months ended
December 31, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Dividend income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Administrative expenses of inactive mountain
Share of loss of entities accounted for using equity
methodOther
Total non-operating expenses
Ordinary profitExtraordinary income
Gain on sale of non-current assets
Other
Total extraordinary income
Extraordinary losses
Demolition expenses of a rental building
Loss on liquidation of subsidiaries
Other
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent-4-

Nine months ended
December 31, 2023

156,954
136,045
20,90914,8596,050

142,034
120,398
21,636
14,967
6,668

784
1,736
597
3,118

898
818
1,1442,861

379
584

376
608

786–

530
2,280
6,887

341
1,325
8,205

12
362
374

13,427677
14,105

470
357
388
1,217
6,045
2,016
(661)
1,355
4,690
194
4,495

458
205
167
831
21,479
3,882
2,649
6,531
14,947
184
14,763Furukawa Co., Ltd. (5715)

Quarterly consolidated statement of comprehensive income (cumulative)(Millions of yen)
Nine months ended
December 31, 2022
ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests-5-

Nine months ended
December 31, 2023

4,690

14,947

(643)
428
2,302
(123)

2,559
364
1,330(144)

515

320

2,479
7,169

4,430
19,378

6,879

19,123290

255

Furukawa Co., Ltd. (5715)

Supplementary Material on Financial Results
for the Nine Months Ended December 31, 2023
February 9, 2024
Furukawa Co., Ltd.
Net sales(Yen amounts are rounded down to millions.)

Machinery business

Nine months
ended
December
31,2022

Nine months
ended
December
31,2023

Fiscal year ending March 31, 2024
Year-on-yearchangePreviously
announced
forecast

Forecast

Year-on-yearchange60,35260,995642

85,60084,1002,441

Industrial Machinery segment
Rock Drill Machinery segment

11,72827,78010,01529,995(1,713)
2,214

17,90038,70017,10039,100(843)3,347UNIC Machinery segment

20,843

20,985141

29,00027,900(61)Materials business

92,43776,618(15,818)

98,30099,300(27,504)

Metals segment

80,75364,501(16,252)

81,90083,500(27,924)

Electronics segment
Chemicals segment

5,287
6,396

5,259
6,858(28)
462

7,300
9,100

6,800
9,000(126)545Real Estate segment

1,581

1,376(204)1,900

1,900(156)

Others segment

2,583

3,043

460

4,200

4,000

328

156,954

142,034(14,919)

190,000

189,300(24,890)

Nine months
ended
December
31,2022

Nine months
ended
December
31,2023

Year-on-yearchangePreviously
announced
forecast

Forecast

Year-on-yearchange

3,495

3,934

439

6,600

6,100

6

Total

Operating profit

Machinery business

Fiscal year ending March 31, 2024

Industrial Machinery segment363(286)(650)

1,000600(915)Rock Drill Machinery segment
UNIC Machinery segment

2,019
1,112

3,258
962

1,239(149)

4,100
1,500

4,300
1,200

1,269(347)

2,009

2,615

606

2,800

2,700

390

Metals segment
Electronics segment

1,164
430

1,845
264

681(166)

1,700
400

1,900200623(300)

Chemicals segment

414505

90700

600

67

Materials business

Real Estate segment707

355(352)500500(335)

Others segment

(101)

(177)

(75)

(100)

(200)

(66)

(Subtotal)

6,110

6,728

617

9,800

9,100

(4)

Eliminations/corporate

(60)

(59)

1(100)

(100)

(26)

6,050

6,668

618

9,700

9,000

(31)

Nine months
ended
December
31,2022

Nine months
ended
December
31,2023

Year-on-yearchangePreviously
announced
forecast

Forecast

Year-on-yearchangeTotal

Exchange rate/Copper priceFiscal year ending March 31, 2024

Exchange rate

Yen/$

136.5

143.3

6.8

143.0

143.7

8.2

Copper price

$/mt

8,425

8,334(91)

8,209

8,326

(225)

-6-Furukawa Co., Ltd. (5715)* Reference Information (the below values are reference values)
1. Industrial Machinery segment order balance
The Industrial Machinery segment mainly provides built-to-order manufacturing, and the order balance as ofthe end of the third quarter is as follows.

Order backlog

As ofDecember 31,2022

As ofDecember 31,2023

Year-on-year change¥13.9 billion¥16.7 billion¥2.8 billion

2. Profit or loss from metal price fluctuations in the Metals segment
Nine months ended
December 31,2022

Nine months ended
Year-on-year change
December 31,2023

Operating profit¥1.16 billion¥1.84 billion¥0.68 billion

Of which was due to pricefluctuations¥1.22 billion¥1.16 billion¥(0.06) billion[¥0.26 billion][¥0.89 billion][¥0.25 billion][¥0.82 billion][¥(0.00) billion][¥(0.07) billion]

CopperGold-7-